Online ads will significantly influence festive spending: Disney+ Hotstar Survey
As India gears up for the festive season, brands must follow suit. They must understand the pulse of the consumers and the factors that affect festive purchases. What motivates consumers to buy a product during the festive season? Who do they like to shop for and why? How do they plan and budget their festive spending? These are all crucial questions for brands to unravel. Decoding consumer sentiments ahead of the festive season, Disney+ Hotstar conducted an all-encompassing Festive Sentiment Tracker survey, drawing valuable insights to facilitate brands in breaking through the clutter of festive advertising.
Click here to download the detailed report
Consumers to up their festive spending
The survey findings indicate that consumers will be enthusiastic about shopping this festive season, with 66% of consumers looking forward to spending more on festivities this year than last year. It is a result of blossoming desires and better spending capacity. 87% of consumers feel their spending capacity has improved or remained the same as last year.
The ticket size of the purchases will be much larger, with consumers expected to spend about INR 15,000 on festivities this year, with men having a higher spending intent and capacity of INR 19,000 for the festive season. The top 3 categories that will benefit the most this festive season include apparel and fashion (32%), mobile phones (29%) and beauty and wellness (27%).
Self-love and gifts to rule the shopping lists
This festive season will see a significant amount of indulgent shopping, with 87% of consumers shopping for themselves and 55% of shoppers shopping for gifts. Consumers will spend about INR 16,000 on gifting, a much higher number than on self (INR 13,000). Interestingly, 30+ consumers would shop for gifts significantly more (60%).
The trends depict a rise in self-love during the festive season. While gifting remains a prominent reason to shop, consumers are tilting towards indulging in shopping-for-self sprees, especially after coming across an old advertisement for a product or service they crave.
Online to enjoy a large share of the pie
The ease and convenience of online shopping will nudge consumers to ‘add to cart’ this festive season. 68% of consumers plan to shop online, followed by mall-goers (39%) and standalone stores (15%). The affinity for e-commerce will extend to consumers opting for non-cash methods like online payments (34%) and card payments (28%) for festive shopping.
Online ads will be the most prominent source of information for products that the consumers will buy (55%), followed by TV ads (33%). They will act as enablers for consumers to discover new products and offers, nudging them to make festive purchases conveniently.
Discounts to pull in customers
While consumers love to shop, they love discounts and offers just as much, if not more. Incentivising a consumer’s experience can aid a brand in witnessing a rise in sales. Disney+ Hotstar’s Festive Sentiment Survey findings indicate that discounts (47%), brand name (41%) and cashback offers (33%) will be crucial considerations for consumers this festive season.
Brands must pay attention to these trends and strategies for better, lucrative campaigns this festive season. Disney+ Hotstar, with its unparalleled subscriber base of premium users, is the perfect partner for brands this festive season. In fact, Disney+ Hotstar is already witnessing overwhelming interest from e-commerce, mobile, apparel and food & beverage brands to advertise on the OTT platform.
